? Acquisition
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Canada-based gaming platform Enthusiast Gaming Holdings (TSX: EGLX, OTCQB: ENGMF, FSE: 2AV) has closed the acquisition of California-based global YouTube gaming platform Omnia Media from Toronto-based international producer and operator Blue Ant Media for a total of about $34.1m, with a 4-month period of stock consideration
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The purchase price includes:
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$8.3m in cash
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$21.5m worth of Enthusiast Gaming’s common shares (18%)
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$4.3m face value of a vendor-take-back note
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With this acquisition, Enthusiast Gaming expected to immediately generate positive EBITDA
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The company also becomes the largest gaming and esports media platform in North America, reaching over 1 billion views on websites and over 4.2 billion views across all channels monthly, with over 75% of views being premium video
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Additionally, the company has closed the related public offering, gaining $13.16m of gross proceeds
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The acquisition was announced this August, during the Enthusiast Gaming’s report
? Products
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Omnia is one of the largest gaming video networks with over 50 million monthly active users. The company creates videos and shows to promote clients products through popular video hosting sites
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Currently, it has over 1,000 channels with more than 500 million subscribers and 30 weekly shows among them, with 3.2 billion monthly video views overall
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The company also represents over 500 gaming influencers across YouTube and Twitch
SOURCES: ENTHUSIASTGAMING, SEEKINGALPHA, GLOBENEWSWIRE
